Trump Discloses Income From Real Estate, Crypto and His Brands
(Bloomberg) — Former President Donald Trump’s latest financial disclosure revealed a sprawling portfolio that includes everything from his primary residence to revenue from resorts and crypto that he could theoretically tap to fuel his 2024 White House comeback bid.
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One of Trump’s biggest sources of income was a Miami-based company that owns golf courses and a resort, producing $145.8 million from 2022 through April 30 of this year. His Mar-a-Lago property in West Palm Beach, Florida, generated $52.3 million over the same period, while Trump Ruffin Tower in Las Vegas took in $32 million from condominium sales and hotel related revenue.
Trump valued each of the three holdings at more than $50 million in a filing to the Federal Election Commission released on Monday. Federal candidates disclose the value of assets and some types of income, including dividends, capital gains, interest, rent and royalties, in broad ranges. Other types, like salaries and speaking fees, must be disclosed in exact sums.
CIC Digital LLC, which earns money through licensing Trump’s image on nonfungible tokens, which produced income of $9.7 million, and held a crypto wallet with at least $1 million in Ethereum that produced $2.8 million in income. In his previous disclosure, the wallet held at most $500,000 and generated no income. He valued Trump Media & Technology Group Corp., which owns his Truth Social platform, at between $5 million and $25 million. It generated $3 million in income.
Polls show Trump as the current frontrunner for the 2024 Republican presidential nomination. The real estate developer-turned reality television star-turned politician regularly touts his business acumen but rarely mentions his personal fortune. The disclosure shows that his businesses continue to generate income he could use to finance his campaign or defend himself in the burgeoning legal battles he faces. Trump’s legal bills reached $25.5 million in the first six months of 2023.
In July, Trump had to file revisions to the first disclosure he filed as a 2024 presidential candidate, covering 2021 and most of 2022, with the Office of Government Ethics, providing exact amounts for his income from his hotels and other businesses. The new Federal Election Commission disclosure, will similarly be reviewed by the ethics office. It was originally due in on May 15 but Trump requested and was granted two 45-day extensions.
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The disclosure provides greater detail about many of his assets and what underlies them. For two Irish-based companies, the disclosure lists dozens of tenants. They include individuals who are identified by honorific and last name and companies, with the amounts of rent they pay denominated in euros.
Trump registered his name as a trademark in 81 jurisdictions, including organizations that cover most of Europe and French-speaking Africa. They include products as diverse as timeshares in Cuba, video games in Iran, health spas in Kazakhstan, laundry bleach in Saudi Arabia and rest homes in China. In a 49-page exhibit, he lists them all, as well as his “Make America Great Again” slogan and other brands.
“While the value of each individual registered trademark is not readily ascertainable, the filer believes that there is significant value to such intellectual property rights in the aggregate,” the disclosure says.
Though he has mounting legal fees with which he’s using money raised through his leadership political action committee to pay for, Trump did not disclose any personal debt to lawyers or law firms on the disclosure. He listed nine outstanding loans totaling at least $250 million, and six that were paid off in 2022.
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